By Laura Lutz
Des Moines, Nov. 1 - Apollo Gold Corp. wrapped a C$1 million sale of flow-through units and priced an additional $5 million placement of non flow-through units.
In the recently settled placement, the company sold 2,222,221 units of one flow-through share and one half-share non flow-through warrant to MineralFields Group at C$0.45 per unit.
Each warrant is exercisable for two years, at C$1.00 in the first year and C$1.15 for the second year.
Regent Mercantile Bancorp Inc. and Limited Market Dealer Inc. were the agents for the completed offering.
The company plans to sell 16.7 million non flow-through units of one share and one half-share warrant to institutional investors at $0.30 per unit. The warrants are exercisable at $0.50 for two years.
Shoreline Pacific, LLC will act as agent for the deal, which is expected to close on Nov. 15
Proceeds from the flow-through units will be used for exploration of the company's Black Fox project near Timmins, Ont.
Apollo is a gold mining and exploration company based in Denver.
Flow-through units
| Issuer: | Apollo Gold Corp.
|
| Issue: | Units of one flow-through share and one half-share non flow-through warrant
|
| Amount: | C$1 million
|
| Units: | 2,222,221
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.00 in the first year; C$1.15 in the second year
|
| Investor: | MineralFields Group
|
| Agents: | Regent Mercantile Bancorp Inc., Limited Market Dealer Inc.
|
| Settlement date: | Nov. 1
|
| Stock symbol: | Toronto: APG
|
| Stock price: | C$0.41 at close Oct. 31
|
|
|
| Non flow-through units
|
| Issuer: | Apollo Gold Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $5 million
|
| Units: | 16.7
|
| Price: | $0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | $0.50
|
| Warrant expiration: | Two years
|
| Agent: | Shoreline Pacific, LLC
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 15
|
| Stock symbol: | Amex: AGT
|
| Stock price: | $0.38 at close Oct. 31
|
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